China reporter Lucy Gao reviews the major business news-making headlines every day in both the Chinese and English-language press.

People’s Daily

■ China is willing to work with the US to keep the two nations on the right path towards building a new type of major-country relations, said Chinese President Xi Jinping while meeting with Barack Obama ahead of a nuclear security summit held in The Hague, The Netherlands.

■ Developed countries should be aware of the “spillover" effect of their economic policies, and emerging markets will remain an important force in global growth, despite their present difficulties, Premier Li Keqiang said when meeting International Monetary Fund managing director Christine Lagarde on Monday.

■ China National Cereals, Oils and Foodstuffs Corp, the country’s largest food trader, signed an official agreement with Netherlands-based agricultural and commodity trading group Nidera on Sunday to acquire 51 per cent of its stock and establish a strategic partnership. The deal is the largest international acquisition in the history of the Chinese agricultural industry.

China Securities Journal

■ China will remove or simplify administrative approvals to encourage mergers and acquisitions between companies in an effort to solve industrial overcapacity and increase competitiveness, the State Council said in a statement on Monday.

■ China’s economy will not have a significant drop and the investment growth will be stabilised with approvals of new railway projects and implementation of an urbanisation plan, a front-page editorial in the journal stated.

Shanghai Securities News

■ The People’s Bank of China said Monday that excessive intervention on internet finance is unadvisable, in response to speculation that moves to limit third-party transfers meant the government was tightening its grip on online finance.

■ Beijing will strive to facilitate legislation for the environmental taxation scheme, which will be submitted in the near future for the State Council’s review, said China Minister of Finance Lou Jiwei.

Shanghai Daily

■ “Negative list" for the Shanghai Free Trade Zone may be cut by 40 per cent in 2014, meaning more sectors will be opened up to investors in the zone, a local government official said.

■ China has asked Malaysia to provide all the information and evidence leading to the conclusion that Malaysian Airline flight MH370 had ended in the southern Indian Ocean, Chinese Foreign Ministry said.

■ China welcomes the participation of overseas companies in the government’s move to ease overcapacity, Vice Minister of Industry and Information Technology Su Botold told a forum on Monday.